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Annual Report 2018 ABN 26 004 139 397 Contents Page at Coca-Cola Amatil, Our Products And

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Annual Report 2018 ABN 26 004 139 397 Contents Page at Coca-Cola Amatil, Our Products And Annual Report 2018 ABN 26 004 139 397 Contents Page At Coca-Cola Amatil, our products and 2018: Our Year 2 people delight millions, and create moments Where We Operate 4 of happiness and possibilities every day. Chairman’s Review 6 Group Managing Director’s Review 8 Operating with purpose matters – Board of Directors 10 it’s not just what we do, it’s how we Group Leadership Team 12 do it. As a multi-beverages powerhouse, Corporate Governance 14 we are committed to delivering on our Operating and Financial Review 16 growth agenda while building sustainable Directors’ Report 49 Remuneration Report 52 outcomes across the regions in which Financial Report 75 we operate. Independent Auditor's Report 127 Auditor's Independence Declaration 131 We’ve developed in more ways than Shareholder Information 132 one – for our shareholders, customers, Five-Year Financial History 135 consumers, communities and our Glossary 136 people, and we’ll continue to create Directories 137 millions of moments of happiness Calendar of Events 2019 137 and possibilities … every day. Coca-Cola Amatil Limited Annual Report 2018 1 2018: OUR YEAR 2018 was a transition year for the Group, with earnings impacted by the planned investment in our Accelerated Australian Growth Plan and the implementation of container deposit schemes, compounded by economic factors in Indonesia and operational challenges in Papua New Guinea. Our performance in many areas remained strong, with New Zealand & Fiji delivering another year of strong EBIT growth and Alcohol & Coffee achieving another year of double-digit EBIT growth. We are proud of the progress we have made on our plans and commitments, and saw encouraging signs in Australian Beverages and Indonesia in the second half. GROUP RESULTS UNDERLYING NPAT* UNDERLYING EBIT* $388.3m $634.5m UNDERLYING EPS* TOTAL 2018 DIVIDEND per 53.6c 47.0c share *From continuing operations 2 Coca-Cola Amatil Limited Annual Report 2018 BUSINESS HIGHLIGHTS GROWTH IN COKE WORLD’S BEST AMATIL X INVESTS TRADEMARK BOTTLERS FOR THE FUTURE We achieved volume growth for New Zealand was named one We launched our corporate Coca-Cola Trademark in Australia of the best bottlers in the world venturing platform Amatil X, in the second half, led by the by The Coca-Cola Company, and made our first investments continued success of Coca-Cola recognising the team’s through the platform in Doshii No Sugar. executional excellence. and TabSquare. IMPROVED NO TO PLASTIC OUTSTANDING GROWTH MARKET SHARE STRAWS IN ALCOHOL & COFFEE In Indonesia, improved value In Australia we said no to We achieved our fifth consecutive share in sparkling, and in Australia plastic straws. year of growth in our Alcohol achieved volume share gains in & Coffee business. sparkling and still beverages. 2018: Our Year 3 WHERE WE OPERATE We operate across six countries, with more than 12,000 employees ensuring that up to 270 million potential consumers are able to get their hands on one of the 140+ brands we distribute and they love, via one of our 880,000+ customers, every day. INDONESIA With 45 warehouse facilities and 8 39 35 production facilities, we are 14 9 a multi-beverages powerhouse. 711,000 5,900 We are Coca-Cola Amatil. 354,000 270m POTENTIAL CONSUMERS KEY Production facilities 880,000+ CUSTOMERS Warehouses 12,000+ EMPLOYEES Production lines Brands 140+ BRANDS Customers (approx.) 45 WAREHOUSES Employees (approx.)* 35 PRODUCTION FACILITIES Coolers 6 COUNTRIES *Excluding contractors 1 COCA-COLA AMATIL 4 Coca-Cola Amatil Limited Annual Report 2018 ALCOHOL & COFFEE1 INDONESIA PAPUA NEW GUINEA 9 20 5 1072 3,050 8153 1 Includes all Alcohol & Coffee operations across Australia, New Zealand, Fiji, Samoa and Indonesia, and excludes shared facilities with other Amatil businesses. 2 Includes all brands distributed by Amatil both as brand owner and brand partner, including those distributed under agreement with Beam Suntory, Molson Coors & Chilli Marketing. 3 Including contractors. PAPUA NEW GUINEA 2 5 8 10 FIJI 13,000 740 1 4 16,600 2 13 3,000 300 4,600 AUSTRALIA FIJI SAMOA NEW ZEALAND 4 11 3 30 16,000 1,000 32,000 NEW ZEALAND AUSTRALIAN BEVERAGES SPC 9 32 2 29 12 27 1 7 114,000 3,100 500 130,000 Where We Operate 5 CHAIRMAN’S REVIEW I am pleased to present the Coca-Cola The work we are doing to ensure the We are seeing the benefit in our Papua Amatil Limited Annual Report for 2018. long-term sustainability of Coca-Cola Amatil New Guinea business as we implement our was reflected not just in our investments Indonesian operational excellence program 2018 was a transition year for Coca-Cola and business plans, but also in our focus in response to operational issues we Amatil as we invested today for a stronger on our partnerships, our people and our experienced in 2018. and more sustainable organisation, sustainability initiatives. tomorrow. The medium and long-term value Our diversity and inclusion objectives are to shareholders of Coca-Cola Amatil has Partnerships aligned to the needs of our business and we been at the core of our work in 2018 and Coca-Cola Amatil has a long and proud are committed to maintaining a diverse range continues to be the Board’s priority in 2019. history of successful partnerships, based on of skills and attributes. trust and shared values. Since 2014 we have We are heading in the right direction in Our overall Group result for 2018 was a focused on strengthening our relationship relation to gender diversity, with 34 per cent 3.9 per cent decrease in underlying earnings with The Coca-Cola Company. Underpinned 1 of women in management roles compared to per share (EPS) with a 7.0 per cent decrease by our Bottler’s Agreements, the Coca-Cola 1 31 per cent in 2017. However there are more in EPS over the full year. There was a System is unique, providing exclusive rights 1 opportunities, particularly to improve 1.1 per cent increase in trading revenue to to produce, package, sell, and distribute diversity in sales, supply chain and $4,752.3 million, and a 6.5 per cent decrease Coca-Cola Company products in each operational roles. in underlying earnings before interest and of our six countries of operation, and is tax1 (EBIT) to $634.5 million. an important competitive advantage The David Gonski Women in Leadership Profit attributable to shareholders1 (before in these markets. program is now in its fourth year and is focused on supporting the development of non-trading items) also decreased 6.5 per In 2018 our relationship with The Coca-Cola our female talent across Coca-Cola Amatil. cent to $388.3 million. The final dividend Company continued to mature. The The results are demonstrating the impact of declared was 26.0 cents per share, franked Coca-Cola Company “Beverages for Life” this targeted development, with 24 per cent at 50 per cent, representing an underlying strategy is benefiting Amatil in all of our of the women who have completed the payout ratio of 87.6 per cent for the full year. markets with a renewed consumer-centric program subsequently being promoted. This Group result reflects the planned approach. The year saw us work closely investment in our Australia Beverages together to meet the constantly changing Sustainability and Indonesian businesses. This investment needs of our customers and choices In 2018 we built on our commitment to will continue in 2019. The Board is pleased of consumers. deliver a lasting, distinctive and positive contribution to the world in which we live. with the progress of the transformation of We were pleased during 2018 to undertake We recognise that our approach to these businesses in partnership with The the joint acquisition with The Coca-Cola sustainability continues to underpin our Coca-Cola Company and the encouraging Company of a 45 per cent minority interest future performance. Our stakeholders signs we saw in both markets in the second in the Australia-based Made Group, are looking to us to act. half of the year. consistent with the Accelerated Australian Pleasingly, we experienced another year Growth Plan focus on emerging categories. Our sustainability framework is focused on the areas where we can have the greatest of strong EBIT growth in New Zealand & Fiji, We also remain aligned in relation to our impact; our people, consumer wellbeing, and Alcohol & Coffee achieved another year ongoing investment in our Accelerated the environment and our communities. of double-digit underlying EBIT growth. Australian Growth Plan, and on delivering In November 2018 we announced the the category and brand portfolio plans in our The release of our 2020 goals in our 2017 conclusion of the strategic review process Indonesian Accelerate to Transform strategy. Sustainability Report was well received. of SPC and the decision to proceed towards Both these plans involve joint investment, This is the first time we have set public divestment. This is well under way with with revenue and earnings growth as commitments in these areas, and we have several non-binding indicative offers their priorities. made good progress toward these goals. In some areas we have already achieved received reflecting strong interest in the We will continue to look for more our target. many opportunities for growth in SPC. opportunities to grow together across Given the uncertainty of the financial our markets. Two priority areas for Coca-Cola Amatil are consumer wellbeing and packaging outcome of the sale process and the wide Our People neutrality. With customers and consumers range of offers received, we have recognised In 2018 we continued to invest significantly also heavily focused on these issues, they a non-cash impairment of the carrying value in the capability of our Indonesian team.
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